Winnipesaukee Forum - View Single Post

mswlogo · 03-10-2021, 01:43 AM

My case is unique that it’s not sell, rent, buy later.

It’s sell, rent, wait for already bought property to be rebuilt.

Some mentioned taxes on selling. If it’s your primary home they wave a huge amount of capital gains. I forget the amount and it may have changed. But I think it’s $500K and it resets every few years if you live in your primary.

Tax laws could change and the rule could change.

If I couldn’t rent I could buy a used RV and park it at the new place and sell it when house is done.

Moving stuff around is a pain though. And we have almost 2 homes worth of stuff stuff in our primary. Because we didn’t want to move it into a house we plan to tear down. Storage is cheap though, assuming you can find it. That is maxed out too.

I also might be able to rent or buy close to the place wanna be at in the first place. I would not rent in MA I’d rent in NH.

I plan to pull some money out of IRA to build. Then replace it when we sell. But it will no longer be tax free compounded. So selling now is another tax win.

I would not want to wait till prices drop. Could be tomorrow or 5 years from now.

03-10-2021, 01:43 AM	#80
mswlogo Senior Member Join Date: Jun 2014 Posts: 660 Thanks: 196 Thanked 222 Times in 143 Posts	My case is unique that it’s not sell, rent, buy later. It’s sell, rent, wait for already bought property to be rebuilt. Some mentioned taxes on selling. If it’s your primary home they wave a huge amount of capital gains. I forget the amount and it may have changed. But I think it’s $500K and it resets every few years if you live in your primary. Tax laws could change and the rule could change. If I couldn’t rent I could buy a used RV and park it at the new place and sell it when house is done. Moving stuff around is a pain though. And we have almost 2 homes worth of stuff stuff in our primary. Because we didn’t want to move it into a house we plan to tear down. Storage is cheap though, assuming you can find it. That is maxed out too. I also might be able to rent or buy close to the place wanna be at in the first place. I would not rent in MA I’d rent in NH. I plan to pull some money out of IRA to build. Then replace it when we sell. But it will no longer be tax free compounded. So selling now is another tax win. I would not want to wait till prices drop. Could be tomorrow or 5 years from now.